Ericsson partners with Eurogiro to build global M-Commerce Interconnect service
- Adds to global scope and flexibility of Ericsson´s M-Commerce solutions
- Agreement covers more than 60 major banking groups and postal organizations within Eurogiro network
- Total reach to more than 500,000 branch offices in all regions of the world
In a significant step towards its goal of providing the world’s most complete and flexible Mobile Commerce service, Ericsson (NASDAQ: ERIC) today announced a partnership with Eurogiro that will allow more than 60 major banking groups and postal organizations worldwide to transact across the company’s M-Commerce Interconnect service.
The Interconnect service is designed to allow multiple transaction paths between different sending and receiving devices and destinations. It will provide an interconnect path to and from banks and other payment service providers, money transfer organizations, mobile network operators and mobile handsets.
By creating one technical and commercial interface, the Ericsson M-Commerce Interconnect service makes it possible for a mobile device to receive a payment from a payment service provider and immediately transfer that payment to a bank.
Announcing the Eurogiro partnership, Ericsson’s Björn Engström, Head of M-Commerce, Ericsson said: “Increasing the interoperability between the varied and growing number of mobile money transfer solutions through our M-Commerce Interconnect service will give our operator customers the stability and security these financial transactions deserve and demand.”
“Our partnership with Eurogiro allows us to offer real-time payment routing, reliable and secure foreign exchange, and world-class banking clearance and settlement all within a strict regulatory environment,” Engström added.
Welcoming the partnership, Eurogiro’s CEO Michel Stuijt said: “By partnering with Ericsson the Eurogiro members can add to their client offering a reach to mobile wallets with the secure and cost efficient processing for which Eurogiro is renowned. This is fully in line with our strategy to enable our members to connect to any major payment infrastructure via Eurogiro. The mobile payments market is growing rapidly and our partnership offers a trusted global partner network.”
Ericsson's M-Commerce services portfolio is designed to unlock the potential of the mobile wallet, fast-track operators' time to market for launching mobile financial services and support the rapid adoption of m-commerce by their subscribers.
About Ericsson
Ericsson is the world's leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world's mobile traffic goes through Ericsson networks and we support customers’ networks servicing more than 2.5 billion subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in 1876, Ericsson is headquartered in
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Eurogiro A/S:
Michel Stuijt, CEO, [email protected]
Uwe Holmsgaard, Director IT, [email protected]